Court Freezes 21 Accounts Linked To Former Minister Of Aviation, Stella Oduah

Stella Oduh
The Federal High Court in Lagos has ruled that the bank accounts of four firms linked to former Minister of Aviation, Stella Oduah be frozen over the companies’ inability to pay the debts of $16,412,819.06 and N100,493,225.59..
According to Punch, Justice Abdulaziz Anka, ruled that the accounts of companies – Sea Petroleum and Gas Company Limited, Sea Shipping Agency Limited, Rotary Engineering Services Limited, and Tour Afrique Company Limited – in 21 commercial banks in the country be frozen and barred from making withdrawals pending the determination of a debt recovery suit filed against the firm by Sterling Bank Plc.
The bank had approached the court for the recovery of a loan of $10,069,620.25 granted Sea Petroleum and Gas Company on October 8, 2012, to finance one unit 5,000MT tanker vessel.
The bank also averred that the company obtained other loans of $449,600.00, $642,954.00 and $350,000, according to an affidavit filed by a manager of the bank Segun Akinsanya.
Akinsanya said the bank resorted to filing the suit following the alleged refusal of the oil company to liquidate the loans, which, he said, stood at $16,412,819.06 and N100,493,225.59 as of November 2016.

Justice Anka adjourned till March 20, 2017 to take the preliminary objection filed by Oduah’s companies in opposition to the suit.

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